According to official sources, Tether's USDt has been successfully launched on Cosmos through Kava, marking an important milestone in the expansion of the Cosmos DeFi ecosystem.
Through integration with Kava on Cosmos, USDt brings liquidity convenience to Cosmos' IBC and EVM ecosystems, addressing the limited growth, liquidity fragmentation, and volatility issues in the Cosmos ecosystem, providing users and developers with a secure and widely accepted standard stablecoin.
Scott Stuart, co-founder of Kava, said: Our support for integrating Tether USDt brings much-needed stablecoin liquidity to the Cosmos and EVM ecosystems. Tether's choice makes Kava an important supporter of the Cosmos ecosystem projects.
Unlike external third-party bridging solutions, the launch of Kava 14 enables native-issued USDt on Kava to flow between IBC and EVM blockchains through "internal bridging", allowing Kava to quickly and securely transfer assets between chains and providing users with an efficient mechanism for stablecoin liquidity provision and transfer.
Therefore, this integration will drive the significant expansion of DeFi economy on Cosmos, providing a high-quality solution to the liquidity problem that has persisted since the UST crash in the first quarter of 2022. The deployment of Tether stablecoin with a strong influence and a market share of 65% will provide users and developers with higher security and reliability.
Paolo Ardoino, CTO of Tether, said: The Kava network is a unique and well-regarded blockchain with a four-year track record of secure operation, which is crucial for protecting USDt users. We are committed to reshaping the future of decentralized finance and promoting a strong and inclusive ecosystem for the benefit of global users.
It is worth mentioning that Kava (kava.io) is a secure and fast Layer-1 blockchain that combines Ethereum developer capabilities with Cosmos speed and interoperability in one.
